The U.S. posted its widest monthly goods trade deficit on record in March, as companies rushed to import foreign goods ahead of sweeping tariffs set by President Donald Trump on what he dubbed as “Liberation Day.”
The U.S. goods trade deficit widened to $161.9 billion in March 2025, up from $147.8 billion in February and smashing past Wall Street’s $145 billion estimate, according to Commerce Department data released Tuesday.
Imports Surge Before Tariffs Kick In
U.S. businesses scrambled to stockpile everything from machinery to consumer electronics before the tariffs took effect.
Imports skyrocketed to $342.7 billion, up 5% month-on-month, but more strikingly, they were up 30.8% compared to March 2024—highlighting the urgency with which U.S. companies accelerated purchases of overseas goods.
Consumer goods led the surge, jumping 27.5% on the month and a staggering 55.5% over the year, to reach $102.8 billion. Imports of industrial supplies such as metals and chemicals climbed 13.5% month-on-month and 37.8% year-on-year, totaling $74.6 billion. Capital goods—machinery and …